BizProspex for Banking
BizProspex for Banking
Bank more customers!
Banking contacts are often difficult to find, but with BizProspex, you can pull many of them into one consolidated financing email database. Our pre-scrapped data product can help you find and connect with banking and finance professionals immediately!
The banking industry has evolved by leaps and bounds over the past few decades when it comes to operations and service delivery. Surprisingly, most banks have failed to exploit the information within their databases. However, that’s all about to change as the banking industry gears up to process immense volumes of data created and collected. Data management is a huge step towards the development of banking industries and will propel it into the 21st century. At a simple banking level, there is a spectacular amount of data to crunch.
DATA CHALLENGES IN BANKING
Risk Assessments Aren’t Working:
It has become clear that up to 38% of banks and financial bodies simply aren’t ready for the risk. By this, we refer to progress and increasing risk. This ties in with our above point. Many banks up to the recent GDPR rollout may have been rigid regarding data and demand. Considering recent global challenges, these banks may now be struggling more than ever. With outdated systems and data management, the ability to manage risk can evacuate. That leaves banks wide open to cyberattacks and more frauds. This ties in neatly with our first point that ‘privacy and protection’ must be a high priority for all banks. Although, with an inefficient data processing standard, everyday users are likely to be at risk. Banks must not only be willing to take on flexible, scalable data management systems but must also be crystal clear. Customers need to be guaranteed that their money is safe. They will also need to realize that their banks are ready to manage risk and fight back against fraud. Hence, banks require clear data management and risk assessment to future-proof their running.
At BizProspex, we strive to help enhance the quality of data handling and data itself. Data quality is a top concern in banking, and dirty data is costing the banking industry trillions of dollars each year. Inadequate quality banking data may include missing payment information. It will also involve duplicates and processing errors and failed applications. Financial data is crucial in the modern age. Each day, people depend on the quality of information banks hold on them. As banks grow, so does its data. We are no longer living in a time when you are purely communicating with a local branch. Banking systems must form data in a way that is easy to access. Financial data can frequently be among few of the most complex data. Income, payments, credit, lending, interest, depreciation, account administration, there is a lot to define. Therefore, high-quality data in the finance industry relies on plain definitions and structures. Without them, there is no uniformity, and user expectations are uncertain. Customers expect modern banking to be quick, simple, and always accessible. To extend that standard of service, it all starts with data.
Failure to Adapt:
Some discoveries show that the banking industry may not be too quick to adapt to change. Around 92% of the 100 leading banks worldwide are still using outdated mainframes. The banking industry is reliant on older systems which are unable to evolve with global demand. Data is growing constantly, and as mentioned, digital demands are growing constantly, too. Failure to adapt could lead to the destruction of the infrastructure, which in and of itself is time-consuming. Therefore, it stands to reason that banks should review flexible means for data handling. The idea of a ‘data lake’ may come into play. That is where financial information is free-moving yet organized, as opposed to shelved and restricted. To achieve this flexibility, banks must be willing to look for answers to data challenges. They must be ready to keep an open mind and be fluid in the face of future demands. Failure to act could result in expensive rebuilding and customer dissatisfaction.
Privacy and Protection:
With banking moving largely to digital platforms, privacy is the key concern, more so now than ever before. Banks have a responsibility of care to make sure that their systems are steadfast and impervious. Financial data is, by definition, big money. Global financiers should be taking substantial steps to safeguard financial data. While the average customer may have two-point protection at home, they need further reassurance. Failure to protect critical financial data is not only catastrophic for the customer but also for the bank. The effect of global issues on the banking sector is widespread. Financial behavior shifted to a digital mainstream. Post-2020, 31% of more customers are expected to continue banking via mobile and the internet. This is a new cluster of data the banking sector must be prepared for. They must not only demonstrate to their customers that their data and money are safe but to their staff, too. Data protection in this age of cyber-terrorism must be the top concern over profit.
Why Choose BizProspex?
We find them all
Has anyone defaulted on your loan and ran away? We can help you find out their whereabouts, with our Skip Tracing Service leave all your worries to us!
Caring hands are better than machines
We nurture your data by giving manual attention to ensure there are no stones left unturned in maintaining its factual sanctity and accuracy. A machine might overlook an important element while humans question every irregularity they observe and improvise.
The meticulousness of human touch gives our work an extra inclination towards reliability. We take extra efforts to verify all minute aspects of your data manually so that there are no errors in your records and you can make the right decision without a doubt.
We understand the need and importance of privacy in the services you offer and we are committed to preserving the same. We deploy additional security measures to maintain the secrecy of all our clients’ data, stay assured of data privacy with BizProspex.
Banking data has a wide range of applications, for that one needs to utilize the data in the right way. We offer manual data mining as per your needs so that you can utilize required information in your operations, make the most of your unused data by using our Data-Mining services.